Nationally, commercial activity is on the increase, after having a more promising year of growth and stabilization in 2015 than recent years. According to an article published by RealtorMag online, “Global and domestic economic hiccups won’t likely slow commercial real estate activity this year.” The greater Tucson area’s commercial real estate market is no exception to this rule, which made moderate gains throughout the course of 2015 and is poised to continue on that path moving into 2016.
Activity at the Rancho Sahuarita Marketplace is strong. The commercial center is currently 100% leased, with the forthcoming addition of a new insurance agent and new pediatric dentistry office in the spring. New tenants will include Nicole Ferrero, a State Farm Insurance agent and Dentist Dr. Nicole Dejbod. Ferrero is looking forward to bringing her services to the community offering residents helpful insurance options, and Dr. Nicole Dejbod will be opening up a pediatric dentistry office to service the community’s families.
The Rancho Sahuarita Marketplace offers residents of the community the opportunity to shop and get the items they need in a close by and accessible location. The vibrant, open-air gathering place, which is anchored by the 108,000 square foot Fry’s Marketplace, Chase Bank, and about 35,000 square feet of adjacent retail space, makes up the first phase on development in this area.
With the increased demand, the Rancho Sahuarita Company is exploring developing additional commercial space at the Rancho Sahuarita Village, which is adjacent to the Marketplace. Upon full build-out, the Marketplace, along with the addition of the Rancho Sahuarita Village, will provide for approximately 195,000 square feet of commercial uses.
The combined commercial center combines the convenience of a neighborhood market with the vibrancy of an activity-rich gathering place. It’s designed to further the initial vision of having a place where residents can live, work, play and shop at their leisure.
“Having all the conveniences of the Rancho Sahuarita Marketplace so close by adds substantially to the quality of life for our residents,” said Bob Sharpe, founder of Rancho Sahuarita. He added, “We are excited to continue welcoming new businesses to our center, and excited to continue providing the residents of Sahuarita and the surrounding community all of their services in their backyard, and therein creating a better life for them.”
In addition to the Marketplace and Village, the Rancho Sahuarita Company recently finalized the entitlements for the northeast corner of Rancho Sahuarita Blvd. and Sahuarita Road. There are a number of prospective buyers and tenants interested in locating on one of the site’s five pads.
“Rancho Sahuarita is continuing to urbanize its suburban location by furthering its vision of building the Sahuarita Town Center. What started with a modular town hall and fire station has evolved into a mixed used development that includes governmental, religious, educational, and commercial uses,” said Ted Herman, Vice Presidents of Land and Commercial Assets for Rancho Sahuarita.